Community post
Converting SBD to Steem on SteemIt
Hi Steem community,
When I convert steem dollars to steem power through my wallet - I don't think i'm getting the appropriate amount of steem at the current market value.
The current market value of steem dollars is 1 SBD = ~7 steem therefore when I convert 0.5 SBD I should get 3.5 steem.
However, based on the transaction below, I got 0.449 steem from 0.647 SBD.
All I am truly asking is, Is steem ripping me off!
All responses (of value) are appreciated and will be upvoted 100% for your time and effort!
Replies (5)
This is happen when I convert our sbd and Steem is less sbd..
I would suggest buying your steem in the market if you want to get the best rate. I don't think you are getting ripped off, just buying at the default...
The conversion mechanism gives you the target price, it's the reason that SBD has a $1 floor. You should sell on the market whenever the price is higher.
Thank you! Am I able to transfer SBD from my Steem account directly to bittex where I can convert it in the market?
Hmm makes sense, would you recommend sending SBD from my Steemit account to bittex -> sell SBD for Steem -> Send back to steemit?